Public Employees Retirement System of Ohio Acquires 232,256 Shares of Coupang, Inc. $CPNG

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Coupang, Inc. by 26.5%, acquiring an additional 232,256 shares in the second quarter, bringing its total ownership to 1,109,175 shares valued at approximately $33.2 million.
• Director Pedro Franceschi and CFO Gaurav Anand sold substantial amounts of Coupang shares, totaling nearly $2.78 million combined, which signifies notable insider trading activity.
• Despite Coupang's revenue increasing by 16.4% year-over-year, the company's last quarterly earnings report missed analysts' expectations, with earnings per share coming in at $0.02 against an estimated $0.07.

Public Employees Retirement System of Ohio raised its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,109,175 shares of the company's stock after purchasing an additional 232,256 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of Coupang worth $33,231,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Coupang in the 1st quarter valued at $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Coupang in the 1st quarter valued at $30,000. Grove Bank & Trust bought a new position in Coupang in the 1st quarter valued at $33,000. Brooklyn Investment Group raised its position in shares of Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock worth $37,000 after acquiring an additional 506 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after acquiring an additional 2,149 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling at Coupang

In related news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gaurav Anand sold 75,350 shares of Coupang stock in a transaction on Monday, August 11th. The stock was sold at an average price of $27.79, for a total value of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at approximately $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,983 shares of company stock valued at $31,203,966 over the last quarter. 12.78% of the stock is owned by corporate insiders.

Coupang Stock Down 0.6%

Shares of Coupang stock opened at $32.04 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The business has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $27.16. The stock has a market cap of $58.41 billion, a PE ratio of 160.20 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same period last year, the firm earned $0.07 earnings per share. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CPNG shares. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Arete started coverage on Coupang in a research report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price for the company. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley boosted their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.

Coupang Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.